Measures of Variability Are Used to

question 14

Multiple Choice

Measures of variability are used to

• A)describe the extent to which scores in a distribution differ from one another.
• B)describe the extent to which scores in a distribution differ from the extreme scores.
• C)make appropriate decisions regarding graph size,shape,and style.
• D)describe measures of central tendency.

---

Definitions:

Oligopoly

A market structure characterized by a small number of firms controlling a large market share, leading to limited competition.

Monopolistically Competitive

Characterizes a market environment where various businesses market products that resemble each other but are not exact duplicates, thereby providing them with some level of control over the market.

Allocative Efficiency

A state of resource allocation in which goods and services are distributed according to consumer preferences, achieving optimal distribution.

Productive Efficiency

A scenario where goods or services are produced at the lowest possible cost and with maximum efficiency in resource usage.